THE Department of Interior and Local Government (DILG) has reminded all local government units (LGUs) to follow the law that allows duly-licensed insurance companies to transact business anywhere in the country even without permits.
In a statement on Saturday, Catalino Cuy, DILG Officer-in-charge and undersecretary, cited Republic Act no. 10607 or “An Act Strengthening the Insurance Industry,” which states that insurance companies, with a valid Certificate of Authority issued by the Insurance Commissioner, should not be hindered from doing business transactions by LGUs.
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